The concept of Blue Ocean Strategy
was developed by W. Chan Kim & Renee Mauborgne. Blue Ocean Strategy is about
revolutionary value innovation.
Value innovation
is created in the region where a company’s actions favorably
affect both its cost structure and its value proposition to
buyers.

To define a blue ocean strategy, you should
look across alternative industries, look across strategic group within
industry, redefine the industry buyer group, look across to complementary
product and service offerings, and participate in shaping external trends
over time. You need to
stand
apart in the marketplace. So, your strategy must deviate from
me-too-ism, and your value curve must diverge from industry standards.